Last month South Sudan devalued its currency in response to the slump in global oil prices. That in turn led to rapid inflation, which is now threatening to cripple the economy.
As Turkey's inflation hits its highest annual rate in 14 years, a small rate hike could be expected. But economic rationality and Erdogan’s politically coordinated cheap money boom have never been the best of bedfellows.
Prices in Germany rose faster than expected in November, strengthening the case of the European Central Bank, which has argued that its economic stimulus will eventually lead to more growth and higher inflation.
President Maduro has said that refinacing the country's hefty foreign debts is the only way to circumvent the effect of crippling US sanctions. He did however order the payment of one last major bond in full.
Cryptocurrencies have grabbed a lot of attention in recent days as the value of bitcoin skyrocketed to hit record highs and Venezuela announced plans to create a digital currency called "petro."
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